Relay Therapeutics (NASDAQ:RLAY) Stock: Insider Donald Bergstrom Sells 2,252 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 2,252 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $18.62, for a total transaction of $41,932.24. Following the transaction, the insider directly owned 396,878 shares in the company, valued at $7,389,868.36. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $18.35 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $21.27. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -11.69 and a beta of 1.72. The firm has a 50 day moving average price of $18.52 and a 200-day moving average price of $14.95.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. As a group, equities research analysts predict that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on RLAY shares. Wall Street Zen cut Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. HC Wainwright boosted their target price on Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Citizens Jmp boosted their target price on Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research note on Monday, August 10th. The Goldman Sachs Group increased their target price on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Citigroup restated a “market outperform” rating on shares of Relay Therapeutics in a research report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.92.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. KBC Group NV bought a new stake in shares of Relay Therapeutics in the first quarter worth about $34,000. Allworth Financial LP purchased a new position in Relay Therapeutics during the 2nd quarter valued at about $34,000. GAMMA Investing LLC increased its holdings in Relay Therapeutics by 108.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,850 shares of the company’s stock valued at $51,000 after purchasing an additional 1,482 shares during the period. Meeder Asset Management Inc. bought a new position in Relay Therapeutics during the 2nd quarter valued at approximately $62,000. Finally, Integrated Wealth Concepts LLC bought a new position in Relay Therapeutics during the 2nd quarter valued at approximately $74,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.